Risk and Risk Management
AbstractRisk exists whenever the future is unknown. This paper deals with the concepts of risk and uncertainty, risk attitudes and reaction to risk. It is explained the distinction between objective risk and subjective risk. Also, it presents risk attitudes and factors affecting them and the economic costs of risk: costs of unexpected losses and costs of uncertainty.
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Bibliographic InfoArticle provided by University of Petrosani, Romania in its journal Annals of University of Petroşani.
Volume (Year): 5 (2005)
Issue (Month): ()
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Web page: http://www.upet.ro/
risk; uncertainty; losses; gains; pervasiveness; risk attitudes; reaction to risk; costs of risk;
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